United News of Bangladesh

The International Monetary Fund (IMF) has saidt hat the Bangladesh government has requested a new IMF supportedp rogramme as discussions continue over the country’s reform agenda and policy priorities. In a statement, IMF Mission Chief for Bangladesh Ivo Krznar said the IMF staff are currently engaged in talks with the Bangladeshi authorities regarding the proposed programme. “The Bangladeshi authorities have requested a new IMF supported program. IMF staff are in discussions with the authorities on their reform agenda and policy priorities,” he said. Krznar said the IMF remains committed to supporting Bangladesh in maintaining macroeconomic and financial stability amid ongoing economic challenges. “The IMF remains a committed partner to Bangladesh in its efforts to secure lasting macroeconomic and financial stability, strengthen resilience, and support strong, inclusive growth,” he added. The development comes as Bangladesh continues efforts to stabilise its economy through fiscal, monetary and structural reforms while addressing pressure on foreign exchange reserves, inflation and the financial sector. Bangladesh has been implementing various reform measures under its existing IMF loan programme approved in 2023.

Prices of sacrificial cattle at Dhaka's makeshift markets have plummeted by more than 50 percent in the final hours before Eid-ul-Azha, with traders reporting heavy losses while buyers welcomed the sharp decline, though poor weather and soaring transport costs are dampening the overall festive mood. Visits to several cattle markets across the capital on Wednesday revealed a dramatic single-day price drop for medium and large cattle, while smaller animals remained largely steady in price. At the Notunbazar 100-Feet cattle market, trader Aynal, who brought 19 cattle from Chuadanga, said buyers are now offering Tk 1.20 lakh to Tk 1.50 lakh for animals he had priced at Tk 2.50 lakh. “If I sell at these prices, I will face massive losses,” he said, adding that he managed to sell only seven animals. Another trader, Shahin, who travelled from Jamalpur with seven cattle, sold only three. He said a cow he had refused to part with at Tk 1.80 lakh is now being offered Tk 1.20 lakh, while another priced at Tk 3 lakh is drawing bids of just Tk 1.50 lakh. At the Aftabnagar market, buyer Raisu noted that demand for premium cattle has virtually collapsed. “No one is willing to go beyond Tk 5 lakh. Sellers asking Tk 8 to Tk 10 lakh are hearing counter-offers of Tk 3 to Tk 3.50 lakh. Those who brought high-value animals will likely return home without selling.” At Meradiya market, Monsur, who oversees the haseel (transaction tax) booth, confirmed the price slide. “Animals that were selling for Tk 1.50 lakh are now going for Tk 70,000 to Tk 80,000,” he said, noting that transaction volumes have fallen sharply compared to last Eid. Weather and Logistics Add to Woes Traders and buyers alike pointed to several days of continuous rainfall as the primary driver of the market downturn, creating waterlogging at multiple venues with no drainage arrangements in sight. Buyer Sakibul Alam at the Tejgaon cattle market said adverse weather forced him to hire a pickup truck — at twice the usual rate. “The cattle price has come down, but extra costs are being added from every direction.” Trader Suleman from Jamalpur, selling at Aftabnagar, said rising fodder prices and higher transport costs had already squeezed his margins before reaching Dhaka. “We raise cattle for Eid expecting extra profit. But at the prices buyers are offering, selling to a butcher by the kilogram would fetch more.” Buyer Saidul Islam at Meradiya noted that a five percent haseel charge, roughly Tk 10,000 on a Tk 2 lakh purchase, is also factored into buyers' calculations, adding further pressure on transaction prices. Sellers are urging hat authorities to ensure proper drainage infrastructure at cattle markets in future years, warning that the combination of poor facilities and unpredictable weather is making the annual trade increasingly unviable for farmers.

Asian stock markets mostly advanced on Wednesday, tracking record gains on Wall Street, while global oil prices slipped amid easing market concerns. South Korea’s Kospi index led regional gains, jumping nearly 5% to a record high as strong buying in technology and semiconductor stocks continued. Taiwan’s main index also surged, driven by optimism around artificial intelligence (AI) demand. In Japan, the Nikkei 225 rose 1.3% to 65,816.62, briefly crossing the 66,000 mark during intraday trading for the first time. Shares of major chip-related companies such as Tokyo Electron and Advantest rose sharply. The rally in Asian tech stocks followed a strong performance in the United States, where Micron Technology jumped nearly

More than 94 percent of active ready-made garment factories in Dhaka and Chattogram have paid Eid-ul-Azha bonuses to workers ahead of the festival, according to a summary report released by the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) on Monday. The report, prepared with data as of May 23, covers a total of 2,134 operational factories across the two zones. Of these, 2,133 factories were found active, of which 2,117 or 99.20 percent have cleared April wages, while 2,021 factories, representing 94.70 percent, have disbursed Eid bonuses. Additionally, 767 factories, or 35.94 percent, have already paid an advance on May salaries. In the Dhaka zone, out of 1,984 active factories, 1,983 (99.95%) paid March wages and 1,983 (99.39%) cleared April salaries. A total of 1,909 factories (95.98%) have paid Eid bonuses, while 690 factories (37.58%) have provided advance wages for May. In Chattogram, all 380 active factories (100%) paid March salaries. Of these, 334 (98.24%) cleared April wages, 352 (91.76%) paid Eid bonuses, and 97 factories (28.53%) have paid advance wages for May. BGMEA data also outlines a staggered worker dispersal plan from Dhaka: 108 factories (6%) released workers on May 24; 664 (37%) on May 25; 771 (43%) are set to do so on May 26; and the remaining 251 factories (14%) on May 27.

Bangladesh Jewellers Association (BAJUS) has raised gold prices in the domestic market ahead of Eid, pushing the price of 22-carat gold up by Tk 2,158 per bhori to Tk 2,38,121, effective from 10:00am Monday. The price revision comes on the back of rising pure gold (tejabi) values in the local market, BAJUS said in a statement. Under the revised rates, 21-carat gold will now be sold at Tk 2,27,331 per bhori, 18-carat at Tk 1,94,847 and traditional-method gold at Tk 1,58,689 per bhori (1 bhori = 11.664 grams). The latest hike reverses a cut made just two days ago. On May 23, BAJUS had reduced the price of 22-carat gold by the same margin Tk 2,158 per bhori, setting it at Tk 2,35,963. Gold prices in Bangladesh have now been revised 69 times so far in 2026, with 37 upward and 32 downward adjustments, reflecting the continued volatility in global bullion markets. Silver prices have also been revised upward alongside gold. The price of 22-carat silver has been raised by Tk 117 per bhori to Tk 5,774. Other silver rates now stand at Tk 5,540 for 21-carat, Tk 4,724 for 18-carat and Tk 3,558 per bhori for traditional-method silver. Silver prices have seen 40 revisions in 2026, 22 increases and 18 reductions.

Hours after the resignation of Professor M Zubaidur Rahman, Bangladesh Bank (BB) has appointed its former Deputy Governor, Md. Khurshid Alam, as the new Chairman of Islami Bank Bangladesh PLC. The central bank communicated the decision via an official letter sent to the private sector bank late tonight (Sunday). Bangladesh Bank eases refinancing terms for state-owned, specialized banks to boost CMSME loans However, the appointment has triggered deep resentment and widespread questions among Islami Bank officials over corporate governance. Officials pointed out that Alam was forced to step down from the central bank in August 2024 following pressure from central bank staff due to his controversial role during the previous Awami League regime. "Khurshid Alam enjoyed numerous privileges during the Awami League's tenure and facilitated controversial business groups. How can the central bank ensure good governance by placing such an individual at the helm of Islami Bank?" an official questioned on condition of anonymity. When contacted, Khurshid Alam confirmed the development, stating that he initially received a phone call from the central bank before being formally served the appointment letter. Central bank sources revealed that the appointment was made under direct instructions from BB Governor Mostakur Rahman, following a recommendation from a certain quarter of the government. Defending the decision, Bangladesh Bank Spokesperson Arif Hossain Khan said, "He was forced to resign back then through 'mob justice' following the regime change. However, no formal allegations orfinancial irregularities were found against him. Therefore, he has been appointed as the Chairman of Islami Bank." Khurshid Alam was initially appointed as the Deputy Governor of Bangladesh Bank on a three-year contract in February 2024 by the then government. Following the political transition in August 2024, he, along with three other top central bank officials, was forced to resign. Alam completed his post-graduation and MBA from the Faculty of Business Studies at the University of Dhaka and joined Bangladesh Bank as an Assistant Director in 1988. Over his long career, he worked in vital departments of the central bank, including Banking Regulation and Policy, Bank Inspection, Financial Institutions and Markets, Off-site Supervision, and the SME & Special Programmes Department. He hails from Bancharampur upazila of Brahmanbaria district.

Bangladesh Bank (BB) has relaxed the participation criteria for state-owned commercial and specialized banks under its refinancing facilities, a move aimed at accelerating the flow of credit to the Cottage, Micro, Small, and Medium Enterprise (CMSME) sector. The SME and Special Programmes Department of the central bank issued a circular to this effect today (Sunday). According to the circular, the decision was taken to enhance the contribution of the CMSME sector to national economic growth and to expand employment opportunities at the grassroots level. Bangladesh Bank unveils Tk 60,000cr stimulus package to revive economy, create 2.5m jobs Under the new directive, state-owned commercial and specialized banks can now enlist as participating financial institutions to access the central bank's CMSME refinancing funds. To facilitate this, the central bank has exempted these state banks from two mandatory conditions that previously restricted their eligibility. The relaxed conditions include the obligation to maintain the non-performing loan (NPL) or classified investment ratio within a maximum cap of 20 percent, mandatory adherence to Bangladesh Bank’s prescribed Capital Adequacy Ratio (CAR), Cash Reserve Ratio (CRR), and Statutory Liquidity Ratio (SLR). By waiving these stringent capital and asset-quality thresholds, the central bank aims to utilize the vast rural and semi-urban network of state-run banks to channel low-cost funds directly to small and marginalized entrepreneurs across the country, BB officials said.

Import-export activities between Bangladesh and India through Bibir Bazar land port in Cumilla will remain suspended for seven days from Monday on the occasion of Eid-ul-Azha. “All types of import and export activities through the port will remain closed from May 25 to May 31,” said Nirmal Pal, general secretary of the land port’s Clearing and Forwarding Agents Association. However, movement of passport holders between the two countries will continue during the period, he said. Business activities at the port will resume from June 1, he added.

Bangladesh recorded a sharp rise in inward remittances ahead of Eid-ul-Azha, with inflows increasing by 41.31 percent in the first 23 days of May 2026 compared to the same period last year, according to the latest data from Bangladesh Bank. Expatriate Bangladeshis sent home US$2.97 billion between May 1 and  23, significantly higher than the US$2.10 billion received during the corresponding period in May 2025. On May 23 alone, remittance inflows through banking channels stood at US$173.64 million, according to latest data of Bangladesh Bank. The latest surge has pushed the country’s total remittance earnings in the current fiscal year (FY2025–26) to a record high. From July 2025 to May 23, 2026, Bangladesh received US$32.3 billion in remittances, registering a 21.26 percent growth over the same period of the previous fiscal year. During July 2024 to May 23, 2025, the country received US$26.64 billion. Central bank officials and financial analysts attributed the strong growth to improved digital banking services, increased remittance flows ahead of Eid-ul-Azha, and competitive exchange rates offered by commercial banks. They said the continued rise in remittance inflows is providing crucial support to the country’s foreign exchange reserves and helping maintain macroeconomic stability amid ongoing global economic uncertainties.

The government has taken comprehensive measures to ensure security and smooth trading at cattle markets across the country ahead of Eid-ul-Azha, including the installation of counterfeit currency detection machines and on-site banking services, Fisheries and Livestock Minister Mohammed Aminur Rashid said on Sunday. Speaking to reporters after inspecting the Diabari cattle market in the capital, he said fake note detector machines have been installed at cattle markets to prevent the circulation of counterfeit currency during the busy Eid trading season. The minister said dedicated banking services have also been arranged at markets, enabling sellers to deposit their earnings safely or open bank accounts instantly to secure their money. Responding to a question, he said the country has an adequate supply of sacrificial animals and this year's Eid demand can be fully met through locally reared livestock. “The number of cows, goats and buffaloes produced by domestic farmers and ranchers is more than sufficient to meet national demand.” Addressing concerns over missing or stolen animals at cattle markets, Aminur said administration officials, law enforcement agencies and volunteer teams are working round the clock at major markets. He said measures such as announcements through loudspeakers, strict monitoring and dedicated assistance cells have been put in place, adding that in most cases missing animals are being quickly traced and returned to their owners. On the issue of illegal cattle inflow through borders, the minister reiterated the government's zero-tolerance stance in this regard. He said necessary directives had already been issued to border guards, local administration and law enforcement agencies during an inter-ministerial meeting held ahead of the Eid season. When asked about cattle prices, Aminur said the country's livestock trade still largely depends on bargaining based on an animal's health, size, build and appearance, which often leads to price variations among similar-looking animals. He suggested introducing a live-weight pricing system in the future to make transactions more transparent and standardised. The minister also ruled out the possibility of market manipulation, saying the large number of buyers and sellers participating in cattle markets makes it difficult to form any artificial syndicate. “Animal prices are determined by market competition and the forces of supply and demand.” He further said adequate personnel have been deployed to maintain discipline, security and smooth transactions at cattle markets in the capital and elsewhere in the country, and that the measures will remain in force until Eid day. Director General of the Department of Livestock Services Md Shahzaman Khan and Director Dr Md Bayzer Rahman were present during the visit.